Markets 
Preliminary results in Sweden’s general election show the left-led bloc of opposition parties holding a three-seat majority over the incumbent right-wing alliance led by Prime Minister Ulf Kristersson. Nevertheless, the final result remains too close to call.
Opinion polls had given the left-wing opposition a comfortable lead for much of the campaign, but the gap narrowed significantly in the final days before the vote.
The four opposition parties are led by Magdalena Andersson, leader of the Social Democrats. Her party is on around 28% of the vote and appears to be heading for its worst result in more than a century. Andersson said that if her opposition bloc’s lead is confirmed, she would be ready to form a new government. She has pledged higher taxes on banks and high earners, shorter healthcare waiting times and measures aimed at improving education.
Kristersson, whose Moderate Party had around 19.9% of the counted vote, said he would respect Andersson’s attempt to form a government if the result holds.
While the centre-left parties in the lead, for the individual parties, both the far-left and far-right parties have lost support.
The far-right Sweden Democrats have lost support compared with the 2022 election, with initial results showing their vote share falling from 20.6% to 17.6%. Party leader Jimmie Akesson nevertheless argued that the result showed the party had become more accepted in Swedish politics. “There are now so many more people around our country who no longer find it difficult to say that they are Sweden Democrats,” Akesson said.
Since 2022 Kristersson’s government has relied on parliamentary support from the Sweden Democrats, giving the party significant influence over policy. He had promised the party key cabinet posts if the right-wing alliance won.
A Social Democrat-led coalition would end four years of right-wing government under Ulf Kristersson. His government came to power four years ago amid a growing concern over gang shootings and organised crime.
A change of government would not necessarily mean a reversal of Sweden’s tougher stance on migration. The Social Democrats have said a restrictive migration policy would remain under an Andersson-led government.
Still the final result may several days away. Late-arriving votes are due to be counted from Wednesday, while all ballots are automatically recounted by regional authorities.
Additional sources • AFP
Read the full article here
